NEW YORK (AP) — NEW YORK (AP) — Interpublic Group of Cos. (IPG) on Wednesday reported fourth-quarter net income of $344.5 million.
On a per-share basis, the New York-based company said it had profit of 92 cents. Earnings, adjusted for one-time gains and costs, were $1.11 per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.
The marketing and advertising company posted revenue of $2.86 billion in the period. Its adjusted revenue was $2.43 billion, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $2.51 billion.
For the year, the company reported profit of $689.5 million, or $1.83 per share. Revenue was reported as $9.19 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IPG at https://www.zacks.com/ap/IPG
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